The boys, an 11-year-old, a 12-year-old and a 13-year-old face a number of charges including a theft of a motor vehicle.
Police were called at 6:20 p.m. Sunday after a resident reported that someone was driving and crashing the school buses into one another.
Police responded to see three boys flee on foot toward the Holloway Terrace development.
Area residents gave troopers a description of the suspects, who were located in the area of Simonds Gardens. The boys were taken into custody without incident.
Police say the boys entered the secured lot and appeared to have driven eight buses through the lot, causing substantial damage to those buses, seven parked buses, fences, gates and a portable toilet.
That damage estimate totals more than $22,500, police said.
The boys were charged and released pending family court hearings.
Shawn McGlinchey, Director of Risk Management for Advanced Student Transport, says it's too early to tell how the vandalism will impact operations.
He says the bus yard is a locked facility so he cannot be certain of how the juveniles got in.
A state police spokesperson, however, says the keys were left in the bus ignitions.